Older adults are now the fastest-growing group of renters in the region, and Montgomery County is seeing that shift firsthand, writes Michaelle Bond for the Philadelphia Inquirer.
Ken Mann, 73, moved from Long Island to Lower Merion this summer to be near his grandchildren. The retired mortgage banker owned homes before, but this time, he wanted less maintenance, and more family time. “My grandchildren can literally walk here,” he said.
From 2013 to 2023, the region added more than 39,000 renters aged 65 and older, a 24% increase. Some, like Mann, are former homeowners. Others, like 83-year-old Ellen Gloria Payne, left longtime residences to live near their children. She now rents in Ardmore, enjoying the safety, convenience, and freedom from home repairs.
Montco landlords are noticing. Helen Aster of Ardmore-based Harrison Richards said senior renters bring a refreshing energy and reliability. Developers are taking note as well. Abrams Realty revised its Exton Square Mall redevelopment to include 55+ apartments after community feedback. Meanwhile, Pennrose is building affordable senior housing in nearby neighborhoods like Overbrook.
Whether aging in place or moving closer to family, more Montco seniors are opting for apartments, reshaping local communities and what retirement living looks like.
To learn more about this growing trend for senior housing, visit the Philadelphia Inquirer.
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